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Bill

S 6716

Relates to the distribution of fire insurance premium taxes

2025 Regular Session Introduced by April Baskin and 4 co-sponsors

Bill S 6716 ensures fire insurance premium taxes fund local fire departments, boosting resources for emergency response and enhancing public safety.

REFERRED TO INSURANCE
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Bill Summary · S 6716

Summary of Bill S 6716

Bill Information

  • Bill Number: S 6716
  • Title: Relates to the distribution of fire insurance premium taxes
  • Status: Referred to Insurance
  • Introduced: March 20, 2025
  • Classification: Bill

Purpose and Intent

Bill S 6716 aims to address the distribution of fire insurance premium taxes collected within the state. The primary intent of the bill is to ensure that the revenue generated from these taxes is allocated in a manner that supports fire safety initiatives and local fire departments, thereby enhancing public safety and emergency response capabilities.

Key Provisions

While the specific text of the bill is not provided, the following are anticipated key provisions based on the title and legislative context:

  • Tax Distribution Framework: Establishes a clear framework for how fire insurance premium taxes will be distributed among various stakeholders, including local governments and fire departments.
  • Funding Allocation: Specifies the percentage of tax revenue that will be allocated to fire departments, potentially enhancing their operational budgets and resources.
  • Reporting Requirements: May include requirements for transparency and accountability in how the funds are utilized by the receiving entities.

Who Would Be Affected

  • Local Fire Departments: Increased funding could improve resources, training, and equipment for fire departments, leading to better emergency response.
  • Insurance Companies: Changes in tax distribution may affect how insurance companies calculate premiums and allocate funds.
  • Homeowners and Policyholders: The bill could indirectly impact homeowners through potential changes in fire insurance premiums based on the distribution of tax revenues.

Procedural Aspects

  • Current Status: The bill was introduced on March 20, 2025, and has been referred to the Insurance Committee for further consideration.
  • Related Bills: This bill is related to several prior-session bills (S 7033, S 4543, S 3811, S 2863, S 6269) and has a companion bill (A 3786) in the Assembly, indicating ongoing legislative interest in this area.

Conclusion

Bill S 6716 represents a legislative effort to refine the distribution of fire insurance premium taxes, with the goal of enhancing funding for fire safety and emergency services. As the bill progresses through the legislative process, further details will emerge regarding its specific provisions and potential impacts on stakeholders involved.

Compiled from official sources — confirm details with the bill’s official record.

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